Tocardo, Climex make tidal energy distribution deal

The arrangement will see Climex sell Tocardo-produced energy, allowing "businesses and other large-scale electricity users to add tidal energy to their renewable energy mix," the Dutch company said.

"Our agreement with Climex will make tidal energy readily available to corporations and government agencies at competitive prices," Tocardo CEO Hans van Breugel said. "This is an important step in Tocardo's efforts to create a well-functioning market for tidal energy, which can provide 10% to 20% of the world's demand for electricity."

Climex, which specializes in the trade of demonstrably green energy, said the addition of Tocardo significantly enhances its offerings.

"The agreement with Tocardo fits our strategy to provide renewable energy sources to high energy users in a transparent and reliable way," Climex general manager Jeroen van de Kletersteeg said.